OneAscent Financial Services LLC Purchases 149 Shares of Kellanova (NYSE:K)

OneAscent Financial Services LLC boosted its holdings in Kellanova (NYSE:K) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,315 shares of the company’s stock after buying an additional 149 shares during the quarter. OneAscent Financial Services LLC’s holdings in Kellanova were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in K. Independent Advisor Alliance increased its stake in shares of Kellanova by 16.5% in the fourth quarter. Independent Advisor Alliance now owns 7,203 shares of the company’s stock valued at $583,000 after buying an additional 1,019 shares during the period. Toronto Dominion Bank increased its position in shares of Kellanova by 5.1% during the third quarter. Toronto Dominion Bank now owns 178,845 shares of the company’s stock worth $14,435,000 after buying an additional 8,686 shares during the period. Wedmont Private Capital bought a new position in Kellanova during the fourth quarter worth $384,000. Barclays PLC lifted its holdings in Kellanova by 134.7% in the third quarter. Barclays PLC now owns 1,800,363 shares of the company’s stock valued at $145,309,000 after buying an additional 1,033,383 shares during the period. Finally, Alpine Associates Management Inc. boosted its position in Kellanova by 93.5% during the fourth quarter. Alpine Associates Management Inc. now owns 612,850 shares of the company’s stock valued at $49,622,000 after acquiring an additional 296,150 shares during the last quarter. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Kellanova Stock Performance

Shares of K stock opened at $82.25 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $82.31 and a two-hundred day simple moving average of $81.39. Kellanova has a 12 month low of $55.01 and a 12 month high of $83.22. The firm has a market capitalization of $28.39 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 4.21 and a beta of 0.31.

Kellanova (NYSE:K) last posted its earnings results on Thursday, February 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.31 by $0.61. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. Analysts forecast that Kellanova will post 3.93 EPS for the current fiscal year.

Kellanova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a $0.57 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. Kellanova’s dividend payout ratio is presently 58.91%.

Analyst Ratings Changes

K has been the topic of a number of recent analyst reports. Royal Bank of Canada downgraded Kellanova from a “moderate buy” rating to a “hold” rating in a research note on Friday, March 14th. StockNews.com started coverage on Kellanova in a report on Saturday. They set a “hold” rating on the stock. Fourteen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.96.

Insider Activity at Kellanova

In other Kellanova news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $81.28, for a total value of $9,313,306.24. Following the completion of the sale, the insider now directly owns 48,649,527 shares of the company’s stock, valued at approximately $3,954,233,554.56. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,260,413 shares of company stock valued at $103,473,032 over the last 90 days. Insiders own 1.80% of the company’s stock.

Kellanova Company Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.